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US stocks are rallying midday, tech shares leading markets higher, S&P 500 breaks above its 200-day moving average on strong earnings reports

Oct 16, 2018

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US Market Snapshot

  • US stocks are rallying midday with tech shares leading markets higher as S&P 500 breaks above its 200-day moving average on strong earnings reports
  • The S&P 500 is currently up 1.4%, Nasdaq Composite is up 2.01%, and Russell 2000 is up 1.48%
  • Tech (+2.34%), Healthcare (+2.08%), and Telecom (+1.67%) stocks are the top performers in the S&P 500 today
  • Financials (+0.99%), Energy (+0.9%), and Consumer Staples (+0.84%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is positive with the advance/decline ratio for the S&P 500 currently at 10.11x
  • 4 stocks in the S&P500 are at 4-week highs while 25 stocks are at 4-week lows
  • 0 stocks in the S&P 500 are overbought while 132 stocks are oversold according to the 16-day RSI Measure
  • 27 stocks in the Nasdaq Composite are at 4-week highs while 513 stocks are at 4-week lows
  • 60 stocks in the Nasdaq Composite are overbought while 551 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently moving down, currently at 18.63 vs. yesterday's close of 21.3

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Grainger (GWW) shares are tumbling 12.7% to $277.26 after 3Q results missed estimates.  Grainger reported a drop in operating margin of 380 basis points to 6.7% and the news is weighing on the stock.  Grainger also reported a USD$139mn impairment charge related to its Cromwell unit in the United Kingdom.  Grainger is rated ‘Neutral’ in both our US-Large Cap and US Industrials Global Top Stock Ideas.
  • Pinnacle Foods (PF) was downgraded at Jefferies to hold from buy while its price target was lowered to $68 from $72.  Jefferies believes Conagra Brands’ (CAG) bid to buy Pinnacle Foods will go through and not attract any other bids.  Jefferies expects Pinnacle Foods to trade in line with the offer price until closing.  Pinnacle Foods is 0.53% higher at $66.48 and Conagra Brands is up 0.87% a $36.15.  Pinnacle Foods is rated ‘Top Buy’ in both our US-Large Cap and US Consumer Staples Global Top Stock Ideas.  Conagra Brands is rated ‘Neutral’ in both our US-Large Cap and US Consumer Staples Global Top Stock Ideas.
  • Spero Therapeutics (SPRO) is plunging 20% to $7.90 in midday trading after Bank of America downgraded the stock.  The price target for Spero Therapeutics was cut to $9 from $19 while the shares were downgraded to underperform.  Spero Therapeutics’ lead asset SPR994 had its prospects diminished in the downgrade, sparking the sell-off.  Spero Therapeutics is rated ‘Top Short’ in our US-SMID Cap Global Top Stock Ideas
     

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 0.64 basis points to 2.86%
  • US 5-Year Treasury Bonds are lower with yields up 0.35 basis points to 3.01%
  • US 10-Year Treasury Bonds are higher with yields down -0.18 basis points to 3.15%
  • The US Treasury 2s-5s Spread has narrowed 0.29 basis points to 0.15%
  • The US Treasury 2s-10s Spread has narrowed 0.82 basis points to 0.29%
  • US Treasury 5s-10s Spread has narrowed 0.53 basis points to 0.14%

Currencies

  • EUR€ is currently little changed against the USD$ at 1.1591
  • GBP£ is currently up 0.449% against the USD$ to 1.3211
  • CHF is currently down 0.266% against the USD$ to 1.0106
  • JPY¥ is currently up 0.349% against the USD$ to 112.16

Commodities

  • WTI Crude is currently little changed 0.13% to USD$71.87/bbl with the Brent-WTI spread up USD$0.36 to USD$9.58/bbl
  • Gold is currently little changed 0.15% to USD$1228.85/oz

 

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Sector ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Russell 1000 Factor ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Movers

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Outperformers Sector Price 1D % Chg Volume
Adobe Systems Inc Information Technology 258 8.13%            1,246,727
Omnicom Group Inc Communication Services 73.5 6.03%                399,517
Arista Networks Inc Information Technology 232 5.09%                  80,857
Progressive Corp/The Financials 69.2 4.54%                528,308
American Airlines Group Inc Industrials 33.14 4.42%            1,180,916
 
Underformers Sector Price 1D % Chg Volume
WW Grainger Inc Industrials 275 -13.56%                321,964
AutoZone Inc Consumer Discretionary 758 -3.64%                  37,252
BlackRock Inc Financials 415 -2.85%                172,170
Freeport-McMoRan Inc Materials 12.6 -2.07%            1,457,915
Comerica Inc Financials 82.3 -1.48%                167,075